Avis Budget Group (NASDAQ:CAR) Upgraded to Hold at StockNews.com

Avis Budget Group (NASDAQ:CAR - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Avis Budget Group Trading Up 1.0 %

Shares of NASDAQ CAR traded up $0.99 during midday trading on Friday, reaching $97.29. The company had a trading volume of 1,171,417 shares, compared to its average volume of 846,076. Avis Budget Group has a 1 year low of $54.03 and a 1 year high of $132.25. The business's 50-day simple moving average is $74.30 and its 200 day simple moving average is $85.17. The stock has a market cap of $3.42 billion, a P/E ratio of -1.88 and a beta of 2.10.

Avis Budget Group (NASDAQ:CAR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.27. Avis Budget Group had a negative return on equity of 14.74% and a negative net margin of 15.45%. Analysts predict that Avis Budget Group will post 8.91 earnings per share for the current year.

Insider Buying and Selling at Avis Budget Group

In other Avis Budget Group news, Director Lynn Krominga sold 661 shares of Avis Budget Group stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $95.00, for a total value of $62,795.00. Following the completion of the transaction, the director now owns 3,355 shares of the company's stock, valued at approximately $318,725. The trade was a 16.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 52.80% of the company's stock.

Institutional Trading of Avis Budget Group

Several institutional investors have recently bought and sold shares of CAR. Barclays PLC increased its holdings in Avis Budget Group by 30.5% in the 3rd quarter. Barclays PLC now owns 200,576 shares of the business services provider's stock worth $17,571,000 after acquiring an additional 46,922 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Avis Budget Group in the 3rd quarter valued at $263,000. GAMMA Investing LLC boosted its stake in Avis Budget Group by 118.8% during the 4th quarter. GAMMA Investing LLC now owns 337 shares of the business services provider's stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Avis Budget Group by 139.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 379,805 shares of the business services provider's stock worth $30,616,000 after buying an additional 221,456 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Avis Budget Group in the fourth quarter valued at about $254,000. 96.35% of the stock is owned by institutional investors and hedge funds.

About Avis Budget Group

Avis Budget Group, Inc engages in the provision of vehicle sharing and rental services. It operates through the following segments: Americas, International, and Corporate and Other. The Americas segment includes the vehicle rental and car sharing operations in North America, South America, Central America, and the Caribbean.